Construction Market in EMEA to expand by USD 336.62 bn through 2023-2027
The rising demand for residential and non-residential building spaces in EMEA is contributed by factors like growing demand among the population, the increase in infrastructure investments, and the adoption of dry construction techniques. The Construction Market in EMEA is estimated to grow by USD 336.62 billion from 2022 to 2027, and the market's growth momentum will accelerate at a CAGR of 4.95%. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
Rising demand for appropriate energy-efficient buildings, such as green buildings is growing significantly with the growing awareness about global warming and climate change. As green buildings minimize energy consumption and efficiently utilize the available energy to meet all their requirements.
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The growing demand for modular houses is another major trend influencing the growth of the construction market in EMEA. Modular houses are manufactured at an offsite location and then shipped to the required location to be assembled and built. These houses offer buyers the flexibility to incorporate their own designs and specifications. These houses are quite cost-effective when compared to traditional houses, which has fueled their demand. Thus, the growing demand for modular houses is expected to support the growth of the Europe, Middle East, and African construction market during the forecast period.
Market Players worth mentioning in this industry are ACS Construction Group Ltd., Airolink Building Contracting LLC, Al Futtaim Group Co., Al Habtoor Group LLC, Arabtec Constructions, Balfour Beatty Plc, BIC Contracting LLC, BOUYGUES, Consolidated Contractors Co., Dutco Group, Eiffage.
For example, Al Naboodah Construction Group offers construction services such as roads, highways, bridges, tunnels, and dams. It also offers civil engineering, mechanical, electrical, and plumbing services, as well as constructs airports, tunnels, and buildings. Our report includes qualitative and quantitative analyses of vendors with a wider understanding of the business ecosystem as well as the strengths and weaknesses of key market players.
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